December4,2023.
Casablanca – In November 2023, the Moroccan automobile market experienced a surge in sales, reflecting a robust growth trajectory. The Exchange Office reported a significant uptick in the value of car sales, reaching approximately 116.38 billion dirhams (aproroximately 12.01 billion US dollars) by the end of October 2023. This marked a substantial increase of 30.5 percent compared to the same period in 2022, showcasing the sector’s resilience and expansion.
The automotive industry’s positive momentum was further highlighted by a notable increase in the number of new cars sold, totaling 13,772 units during November 2023. This represents a remarkable growth rate of 22.01% compared to the corresponding period in the previous year. The surge in sales was primarily driven by the private vehicle (PV) segment, which saw a significant uptick of 21.36%, while light commercial vehicles (LCV) witnessed an even more pronounced increase of 26.61%, totaling 1,751 units.
In the PV segment, the renowned “Dacia” brand maintained its stronghold as the market leader, commanding a substantial market share of 23.58%. Following closely behind, Renault secured a notable market share of 17.87%, with Peugeot claiming the third position at 9.54% market share. Meanwhile, in the LCV category, Renault dominated with a commanding market share of 32.67%, followed by FIAT and DFSK.
The premium segment also demonstrated commendable performance, with Audi leading the pack with a 3.04% market share, surpassing competitors like BMW and Mercedes-Benz. Despite variations in market shares, Porsche experienced a significant growth of 20%, while Jaguar encountered a slight decline of 7.14% in sales.
Despite the positive momentum in the automotive sector, other industries in Morocco experienced mixed results. While the construction sector witnessed a notable increase in sales, contributing to the overall surge in car sales, sectors like textiles and leather experienced modest growth. Conversely, the agriculture and food industry sector recorded a slight decrease in sales.
Overall, the Moroccan automobile market’s performance in 2023 showcased resilience amid economic fluctuations. With a total of 143,986 new cars sold over the eleven-month period, the market demonstrated stability despite a slight overall decrease of 0.9%. While the PV segment witnessed a modest increase of 0.42%, LCVs experienced a decline of 11.22%.
The Moroccan automobile market’s upward trajectory in 2023 underscores its significance as a vital driver of economic growth, reflecting both resilience and adaptability amidst changing market dynamics.